Dispersing the funds

[lamjam]

What is the name of your state? Maine
My mother passed away 3 yrs ago. My sister was named as personal rep in the will. She told me that all bills have been paid except the lawyer who handled the will and the taxes. I have asked for an accounting of bills paid, what the estate owns,ect and she is giving me a hard time about that. At the closing of the house, just last week, she took the proceeds and put $49,000 in a checking account in the estates name and her name for lawyer fees and taxes which is not expected to be that much money.She called it "easy access money" She also put $100,000 in a CD, thus tying up any dispersments of the estate. She said she will give it out "when she feels like it" She also said she will give it out at $5000 and $10,000 intervals "so we won't have to pay taxes" She NEVER consulted any of us(4) about this deposit, she just did it. Is this legal? There are no minors involved. We are all grown with families. Please help!
Lamjam

 

[JETX]

Assuming that this is all done under probate, simply go to the court and review the file. It is public record and open for your inspection.
Then, with the facts from the file, you will be in a better position of knowledge to ask the right questions.

 

[Dandy Don]

She is not supposed to be tying up estate money in a CD--isn't that money that is supposed to be distributed to heirs? Looks like she is hiding this money for herself at a later date--who is beneficiary of the CD? Her justifications/reasons do not make good sense.

Consider hiring your own attorney to get this matter exposed in probate court so she can possibly be removed as executor--this appears to be improper/illegal, unethical behavior.

DANDY DON IN OKLAHOMA ([email protected])

 

[smorr]

I agree with Dandy Don - this money is not hers only, even if she is the only one named in the will and is the administratrix of the will. I would definitely hire a good probate attorney. Have him write her a letter stating that he has been retained to represent your interests in the will and to give you an immediate and full accounting of her actions so far as executrix, and that she will be obligated to continue to give you regular accountings and if she does not, he has been authorized to seek her removal as executrix of the will. This will do one of two things, it will either shake her up enough to do what he asks, or she'll get tougher, in which case you've got a probate litigation matter on your hands. I would not let that deter you from exercising your rights in this matter.

She's obviously hiding money for herself and I don't see you getting anything out of this unless you start pushing your weight around.

This happened on my mother's side of the family too (her sister against four other siblings). Her sister lost! God, I hate seeing this happen in families!!! It's so sad....

Best of Luck!